Micron hits $1 trillion market value on AI chip demand
Micron Technology reached $1 trillion in market value for the first time on Tuesday as shares surged 18 percent to a record high of $886.60, driven by demand for AI memory chips. Brokerage UBS nearly tripled its price target to $1,625 per share, the highest among the 46 firms covering the company. Micron said its entire 2026 high-bandwidth memory chip supply is already sold out, with shares climbing more than eightfold over the past 12 months. The milestone makes Micron the largest U.S. memory chipmaker and positions the country in a market dominated by Asian rivals Samsung and SK Hynix.
NASA Awards Blue Origin $20B Contract for Moon Base
NASA announced it will launch the first mission of its lunar base program this fall, dispatching a Blue Origin spacecraft to the Moon's South Pole to begin constructing a permanent human colony. The $20-30 billion contract went to Jeff Bezos' company, which will use its Mark One Endurance lander to deliver scientific payloads. Administrator Jared Isaacman unveiled the roadmap Tuesday in Washington, marking a departure from the previous Artemis framework by building directly on the lunar surface rather than establishing an orbital station first. The location was chosen for water ice reserves critical to sustaining long-term human presence.
Starship test failure raises questions about NASA moon timeline
SpaceX's Starship suffered engine failures during its twelfth flight test on May 22. One of 33 Raptor 3 engines shut down on the Super Heavy Booster and a hot-staging malfunction caused the booster to tumble into the Gulf of Mexico. The upper stage vacuum engine failed, forcing extended burns to maintain trajectory and cancelling a planned deorbit demonstration. The vehicle deployed 20 Starlink simulators and splashed down in the Indian Ocean. The test delays NASA's Artemis III moon landing scheduled for late 2027.
Iran Deal Omits Nuclear Vows; Trump Adds Abraham Accords Demand
US Secretary of State Marco Rubio tempered expectations for a swift US-Iran peace deal, saying negotiations could "take a few days." Both sides claim progress on a 14-point memorandum despite significant disagreements over Iran's nuclear program, sanctions relief, and Hezbollah. Iran's draft requires ending hostilities on all fronts, lifting the naval blockade, opening the Strait of Hormuz, and withdrawing American forces, with no commitments on its nuclear ambitions. President Trump has further complicated talks by demanding Muslim-majority countries sign the Abraham Accords with Israel, a condition immediately rejected by Pakistan.
US Strikes Iran After Ceasefire, Peace Talks Go On
The United States struck Iranian missile sites and mine-laying boats near the Strait of Hormuz on May 26. Tehran accused Washington of breaching a ceasefire and threatened retaliation after claiming to have downed a US drone. Secretary of State Marco Rubio said a peace deal remained within reach as Iran finalizes a 14-point framework seeking the release of $24 billion in frozen assets. Separately, Israeli strikes in Lebanon killed 31 people including four children, and Iran's internet saw partial restoration after nearly three months of blackout. Oil prices surged over 3%.
US to slash NATO forces; Europe braces for security gap
The United States plans to significantly cut its military contributions to NATO, reducing fighter jets by a third, halving strategic bombers, providing fewer destroyers, and eliminating submarine support entirely. Defense Secretary Pete Hegseth's envoy briefed senior NATO officials in Brussels on the changes. NATO is simultaneously strengthening its eastern flank by assigning the German-Netherlands Corps to rapid deployment in Latvia and Estonia. A NATO spokesman acknowledged the alliance had "over-relied" on the United States, warning that Russia could mount a large-scale assault on allied territory as early as 2029.
More
- Samsung wage deal passes but sparks worker protest. Chip division workers approved the agreement with 73.7 percent support, but employees in smartphones, TVs and appliances filed a legal challenge over bonus disparities, with their union membership surging from 2,600 to 13,000 in a single day.
- Eli Lilly Acquires Three Vaccine Developers for Up to $4B. The drugmaker is buying Curevo, LimmaTech Biologics and the Vaccine Company as part of a strategy to prevent diseases before they develop, rather than treat them after symptoms appear.
- BP removes chairman Albert Manifold over governance concerns. The oil supermajor ousted Manifold less than a year after his appointment, sparking a 6% share slide and leaving the board seeking a permanent replacement. The company declined to detail the governance concerns.
- Ferrari's first electric car breaks with tradition. The Luce features four doors, five seats and 1,036 horsepower, but investors punished the stock by 6 percent despite the technical ambition.
- Ex-Palantir engineers raise $12M for AI drug platform. Three former Palantir engineers who built the AIP platform are tackling the 15-year drug development process with a unified AI system for scientific due diligence and clinical trials.